Goldman Sachs Group Inc. Lowers Holdings in Smurfit Westrock PLC $SW

Key Points

• Goldman Sachs reduced its stake in Smurfit Westrock PLC by 19.2%, currently owning approximately 2.54 million shares worth about $114.6 million.
• Despite Goldman Sachs' reduction, other investors like NBC Securities and QRG Capital Management significantly increased their holdings in Smurfit Westrock during the same period.
• Smurfit Westrock announced a quarterly dividend of $0.4308 per share with an annualized yield of 3.8% and a payout ratio of 260.61%.

Goldman Sachs Group Inc. cut its holdings in Smurfit Westrock PLC (NYSE:SW - Free Report) by 19.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,542,733 shares of the company's stock after selling 605,956 shares during the period. Goldman Sachs Group Inc. owned 0.49% of Smurfit Westrock worth $114,576,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. NBC Securities Inc. raised its holdings in shares of Smurfit Westrock by 127,600.0% during the 1st quarter. NBC Securities Inc. now owns 1,277 shares of the company's stock worth $57,000 after acquiring an additional 1,276 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Smurfit Westrock by 106.3% during the 1st quarter. QRG Capital Management Inc. now owns 11,709 shares of the company's stock worth $528,000 after acquiring an additional 6,032 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Smurfit Westrock by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 57,939 shares of the company's stock worth $2,610,000 after acquiring an additional 1,600 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Smurfit Westrock by 36.5% during the 1st quarter. Farther Finance Advisors LLC now owns 5,038 shares of the company's stock worth $230,000 after acquiring an additional 1,346 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Smurfit Westrock by 3.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 16,353 shares of the company's stock worth $737,000 after acquiring an additional 488 shares in the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Performance

SW stock opened at $45.71 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.73. The business's fifty day simple moving average is $45.74 and its two-hundred day simple moving average is $44.51. Smurfit Westrock PLC has a twelve month low of $37.01 and a twelve month high of $56.99. The firm has a market cap of $23.87 billion, a price-to-earnings ratio of 69.26 and a beta of 1.04.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.12). Smurfit Westrock had a return on equity of 5.90% and a net margin of 1.14%.The business had revenue of $7.94 billion during the quarter, compared to analysts' expectations of $7.88 billion. The company's revenue for the quarter was up 167.4% compared to the same quarter last year. Analysts predict that Smurfit Westrock PLC will post 3.25 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 15th will be paid a $0.4308 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.8%. Smurfit Westrock's dividend payout ratio (DPR) is presently 260.61%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SW. Wells Fargo & Company upped their price objective on Smurfit Westrock from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Truist Financial upped their price objective on Smurfit Westrock from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Jefferies Financial Group upgraded Smurfit Westrock from a "hold" rating to a "buy" rating and increased their price target for the company from $44.00 to $55.00 in a report on Monday, June 16th. Barclays decreased their price target on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Finally, Morgan Stanley increased their price target on Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.78.

Smurfit Westrock Profile

Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.

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